While Iran complains and takes steps, it appears that the Trump Administration may not be as tough as some thought and may be backing off of one of the provisions related to sanctions. Notice some items from the Washington Post and the New York Post:

Is Trump going to blink at making Iran sanctions real?

With the next phase of painful Iran sanctions almost here, European leaders are trying to gut them — and Treasury Secretary Steve Mnuchin is taking their side. Will President Trump let Mnuchin make him look weak, or stick with sanctions hawks like National Security Adviser John Bolton?

At issue is Iranian banks’ access to a key financial-messaging system called the Society for Worldwide Interbank Financial Telecommunication. The hawks argue that denying access to the Belgium-based SWIFT is critical to limiting Iran’s participation in the global financial system.

On Nov. 4, when America imposes new sanctions on Iran targeting its oil exports and banks, the question is whether to include a ban on its access to SWIFT. Such sanctions could strangle Iran’s energy sector, its economic backbone, and perhaps bring its already ailing economy to a screeching halt. That, in turn, might lead to a better deal than the one the Obama folks secured concerning Tehran’s nuclear program.

Alas, oil can be sold clandestinely, so Iran can bypass sanctions — if it can manage to complete its sales. And SWIFT, which facilitates reliable, safe and, well, swift transactions, is key to that.

Yet Team Trump is seriously considering exempting SWIFT from the sanctions. The Treasury Department, I’m told, has commissioned a CIA report that would pooh-pooh its importance. In Israel last week, Mnuchin told officials that barring Iranian banks from SWIFT is now out, reports the newspaper Israel Hayom.

“Our objective is to make sure that financial institutions do not process sanctioned transactions,” Mnuchin told The Wall Street Journal, adding however that some Iranian banks will keep SWIFT access.

Foreign banks will soon be able to become part of Russia’s money transfer network which serves as an alternative to the traditional SWIFT (Society for Worldwide Interbank Financial Telecommunication) system.

“Non-residents will start connecting to us this year. People are already turning to us,” said First Deputy Governor of the Central Bank of Russia Olga Skorobogatova. Earlier, the official said that by using the alternative payment system foreign firms would be able to do business with sanctioned Russian companies.

As of September, 416 Russian companies have joined the System for Transfer of Financial Messages (SPFS), including the Russian Federal Treasury and large state corporations including Gazprom Neft, Rosneft, and others, the Central Bank said.

The potential exclusion of Russia from SWIFT worried the country’s banks in 2014, when the EU and the US introduced the first round of international sanctions against Moscow over alleged involvement in the Ukraine crisis and the reunification with Crimea. SWIFT has said it remains neutral in the political conflict.

There have been reports that despite such claims, the US has enough power to block transactions through SWIFT. …

Notice also that the Europeans are also working on an alternative to SWIFT:

The internationally acknowledged banking center has joined the voices from across Europe about creating an independent analog for the Society for Worldwide Interbank Financial Telecommunication (SWIFT) amid US anti-Iran sanctions. Russia, which has already created its own system, voiced readiness to cooperate within a “euro-SWIFT” system.

Swiss Ambassador to Moscow Yves Rossier has affirmed that his country can join other states in setting up an independent alternative the Society for Worldwide Interbank Financial Telecommunication (SWIFT).

“If there are any new developments in the financial sector, we will closely monitor them, but this is clearly a matter for reflection in the EU, not in Switzerland… But if a new payment system appears, every country will take part in it, including us, of course, why not,” the diplomat told Sputnik. …

The German government is working together with the EEAS and European Commission, as well as France and the United Kingdom, on maintaining financial payment channels with Iran,” the spokesperson noted, adding, “The negotiations on this are intensive and ongoing. There are different models under consideration,” cited by Politico.

Russia Ready to Join

Russian Finance Minister Anton Siluanov, commenting on the recent statements, has expressed Moscow’s readiness to cooperate within some kind of euro-SWIFT system to process operations among European banks and financial institutions, including oil and other resources payments.

«We are ready to join such offers. That’s why it seems to me that this would be a way-out and response to these restrictions the US is imposing on companies and financial institutions, using dollars for settlements,” he told the Russian broadcaster Rossiya 24.

The Brussels-based international interbank payment system SWIFT, created in the 70s, is now used by nearly 11,000 organizations in more than 200 countries. Criticized for sharing some information with the US government following the 9/11 attacks, the system in 2014 stated that it’s been put under pressure by some countries, insisting on its joining the sanctions against Russia. 10/05/18 https://sputniknews.com/business/201810051068629556-switzerland-eu-swift-alternative/

Brussels and European Union states seem ready to stage a battle with Washington over an obscure but important financial-service network—against Europe’s own interests.

The looming brouhaha concerns Swift …

Swift is particularly prone to U.S. pressure because the American financial system looms so large in the world. Swift’s board includes representatives of European and American banks, and many messages across its network travel to or from the U.S. Some Europeans believe Washington wields too much influence over a network they think should operate on a multilateral consensus like a financial EU. 10/17/18 https://www.wsj.com/articles/europes-not-so-swift-diplomacy-1539730896

EU Looking to Sidestep U.S. Sanctions With Payments System Plan

Currently, the USA benefits from most international trade as most of the time nations use US dollars for trade. Every time a nation stops doing that, or reduces doing that, it has a negative effect on the economy of the USA.

As I have written before, there is a price to pay for US sanctions and they do affect the dollar.

World events continue to confirm items posted here as well as in our videos. Here are two such videos:

A recent headline was “Is Trump Pushing Germany to Russia?” There have been comments by German and Russian leaders that they have aligned interests that Donald Trump opposes and need to take financial, military, and other steps to assist Europe. Russia and the EU (European Union) still support the Iran nuclear deal, Paris Climate accords, and the World Trade Organization, despite Donald Trump’s actions against them. Have there been comments to replace the USA’s SWIFT system by the Russians and Germans? What is Russia’s MIR payment system? What about talks for the EU to have trade and other arrangements with the EAEU (Eurasian Economic Union)? Did the old Radio Church of God foretell of the development of a Russian and German plan to eliminate the USA? Has Russia indicated that it wants Alaska back? Is the giving of USA territories to Russia by a coming European leader consistent with a prophecy in the Book of Daniel? Here is a link to our video: Is Donald Trump pushing Europe to Russia?

Russian Prime Minister Dmitry Medvedev said new US sanctions would be a declaration of economic war. Iran, North Korea, China, Europe, and Turkey are also upset about USA sanctions and tariffs. A Turk asserted “Somebody must find a solution and stop the USA.” The BRICS nations see US sanctions and tariffs as helpful to their objectives to trade without the USA. Are “unintended consequences” of USA policies threatening the current Anglo-American world order and leading to a New World Order? What has ‘Lord’ Jacob Rothschild and Russian President Vladimir Putin stated? Does Bible prophecy show that a confederation of Turks, Arabs, and Europeans pose a real threat to the USA and UK? Is the final time of the Gentiles coming? Will it be worse than people imagine? Dr. Thiel addresses these issues and more. Here is a link to our video: US Sanctions and Tariffs leading to New World Order?